Tuesday, November 14, 2017

Bloomberg Media CEO Justin Smith sent out the following to the staff on Tuesday morning:

Dear Colleagues,

At the heart of our efforts to build the world’s leading business
and financial company in service of Bloomberg LP is a commitment to
innovation as we create a next-generation media model with new products,
services, and commercial strategies.

While the media industry continues to face strong headwinds, we’ve
successfully transformed our business to be majority digital (audience
and revenue). We just closed our books for Q3 and I’m pleased to report a
strong performance.

Our Q3 total advertising revenue grew +5% year-over-year, driven by
digital growth in custom content, video, audio, and programmatic.
September was our best digital advertising month ever – up +9%
year-over-year. Digital advertising revenue has grown +25% year to date
through Q3. Best of all, our Q4 advertising bookings are pacing even
stronger.

Meanwhile, traffic across our digital network in August grew +21%
year-over-year. Video across our owned and operated properties and on
offsite platforms including Facebook, Twitter, and YouTube was a bright
spot, reaching all-time highs and growing +48% and +210% year-over-year,
respectively. We now have five launch partners secured for our
forthcoming live breaking news network with Twitter, with more to come.
These are exceptional results that should make us very proud....MUCH MORE